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Geophysical Services in the US Industry Data and Analysis
Revenue for geophysical service providers has fluctuated alongside dramatic shifts in the global landscape. Oil prices had been on the downswing in recent years alongside tightening monetary policy intended to constrain inflation, reducing new exploration activity. However, the war in Iran and associated closure of the Strait of Hormuz has sent oil prices skyrocketing, to the benefit of service providers. Concurrently, nonresidential construction has contracted after reaching a peak in 2024, slowing new project pipelines. Revenue has dropped at a CAGR of 0.4% during the current period, reaching $2.0 billion in 2026, including a 24.6% jump in 2026 alone as oil prices have skyrocketed, creating demand for new exploration.While the short-term potential for geophysical services is contingent upon investment from oil and gas industries, the ongoing energy transition will increase the need for services exploring renewable energy sources. This shift will become a dominant force, with renewable energy providers emerging as key clients. Federal policies will play a critical role in shaping the future landscape. The government's commitment to achieving net-zero emissions, along with initiatives like the Inflation Reduction Act (IRA), will further accelerate investments in clean energy infrastructure. With financial investments in renewable energy expected to soar, providers will leverage the next generation of advanced seismic tech in high-growth markets such as offshore wind and geothermal energy.Nonetheless, service providers' dependence on fossil fuels in the interim will drag down revenue. Low oil prices and declining demand from the mining sector will significantly constrain growth, with oil prices forecast to come down from a 2026 peak. Exploration budgets will thus come under pressure, curtailing the pipeline for available projects, particularly in traditional metal industries. In addition to the expected reorientation toward renewable energy sources, companies will turn to supporting industrial markets, with federal initiatives, particularly the Infrastructure Investment and Jobs Act, expected to support investments in critical infrastructure. Industry revenue is forecast to creep downward at a CAGR of 4.0% to reach $1.7 billion in 2031.
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What's included in this industry analysis
IBISWorld's research coverage on the Geophysical Services industry in the United States includes market sizing, forecasting, data and analysis from 2016-2031. The most recent publication was released May 2026.
About this industry
What's this industry report about?
The Geophysical Services industry in the United States operates under the NAICS industry code 54136. Companies in this industry gather, interpret and map geophysical data. Players often specialize in locating and measuring the extent of subsurface resources such as oil, gas and minerals. Still, they may also conduct surveys for engineering purposes. Companies also use various surveying techniques depending on the purpose of the study, including magnetic, gravity, seismic, or electrical and electromagnetic surveys. Related terms covered in the Geophysical Services industry in the United States include seismic survey, survey crew and geophysical survey.
What's included in this industry?
Products and services covered in Geophysical Services industry in the United States include Integrated geophysical services, Integrated geophysical services, excluding oil and Databases and other collections.
What companies are included in this industry?
Companies covered in the Geophysical Services industry in the United States include Compagnie Generale de Geophysique and Fugro N.V.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Geophysical Services industry in the United States.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Geophysical Services industry in the United States.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Geophysical Services industry in the United States.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Geophysical Services industry in the United States. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Geophysical Services industry in the United States. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Geophysical Services industry in the United States. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Geophysical Services industry in the United States. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Geophysical Services industry in the United States.
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Frequently Asked Questions
What is the market size of the Geophysical Services industry in the United States in 2026?
The market size of the Geophysical Services industry in the United States is $2.0bn in 2026.
How many businesses are there in the Geophysical Services industry in the United States in 2026?
There are 3,733 businesses in the Geophysical Services industry in the United States, which has grown at a CAGR of 0.3 % between 2021 and 2026.
How may import tariffs affect the Geophysical Services industry in the United States?
The Geophysical Services industry in the United States is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Geophysical Services industry in the United States?
The Geophysical Services industry in the United States is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Geophysical Services industry in the United States grown or declined over the past 5 years?
The market size of the Geophysical Services industry in the United States has been declining at a CAGR of 0.4 % between 2021 and 2026.
What is the forecast growth of the Geophysical Services industry in the United States over the next 5 years?
Over the next five years, the Geophysical Services industry in the United States is expected to decline.
What are the biggest companies in the Geophysical Services industry in the United States?
The biggest companies operating in the Geophysical Services industry in the United States are Compagnie Generale de Geophysique and Fugro N.V.
What does the Geophysical Services industry in the United States include?
Providing integrated geophysical services and Offering geophysical services that exclude oil and gas well logging are part of the Geophysical Services industry in the United States.
Which companies have the highest market share in the Geophysical Services industry in the United States?
The company holding the most market share in the Geophysical Services industry in the United States is Compagnie Generale de Geophysique.
How competitive is the Geophysical Services industry in the United States?
The level of competition is high and increasing in the Geophysical Services industry in the United States.
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